The Indoor Positioning and Indoor Navigation (IPIN) is a mosaic industry interlinked closely to attendant markets such as location based services, real-time asset tracking, customer experience management, smart building management, and mass notification system among others.
Factors driving the IPIN industry:
- Need for Real-time Location Analytics
- Thrust on Customer Experience for Brand Building
- Demand for Proximity Marketing
- Surge in Adoption of IoT
- Rise in Adoption of Hardware e.g. Bluetooth Beacons, QR Codes/NFC Tags
Attendant Markets and Their Projected Growth within the Forecast Period
Parking Management Market Global Forecast 2018 – USD 3.39 billion; 2023 – USD 5.2 billion @ CAGR of 8.7%
- Seamless traffic flow
- Fuel consumption reduction
- Increasing motor vehicle sales
Incident and Emergency Management Market:
Global Forecast 2019 – USD 107.0 billion; 2024 – USD 148.5 billion @ CAGR of 6.8%
- Occurrence of unpredictable natural disasters
- Growth in terrorist attacks and criminal activities
Smart Building Market
Global Forecast 2019 – USD 60.7 billion in 2019; 2014 – USD 105.8 billion @ CAGR) of 11.7%
- Rising adoption of IoT-enabled building management system
- Increased awareness on indoor space management
Location Based Services Market
Global Forecast 2019 – USD 16.0 billion; 2024 – USD 40.0 billion by 2024 @ CAGR of 20.1%
- Growing demand for LBS and RTLS for industry applications
- Proliferation of smartphones/location-based apps among consumers
- Growing demand for geo marketing
Digital Railway Market
Global Forecast 2019 – USD 50.0 billion; 2024 – USD 74.8 billion @ CAGR of 8.4%
- Increasing investments in the railway sector
- Surge in passenger numbers
- Focus on passenger experience
Integrated Workplace Management System Market
Global Forecast – 2019 USD 2.3 billion; 2024 – USD 4.6 billion @ CAGR of 14.2%
- Requirement of improved and efficient operational solutions
- Increased sophistication of solutions and services
Location Analytics Market
Global Forecast 2019 – USD 10.6 billion; 2024 – USD 22.8 @ CAGR of 16.6%
- To analyze and generate insights from the spatial data
- Development of location-based technologies
Customer Experience Management Market
Global Forecast 2019 – USD 7.8 billion; 2024 – USD 14.5 billion @ CAGR of 13.3%
- Increasing need to improve customer engagement
- Reduce customer churn rate
- Rising demand for big data analytics
Student Information System Market
Global Forecast 2018 – USD 5.0 billion 2023 – USD 9.0 billion @ CAGR of 12.4%
- Growing demand for robust internal process software and improve
- Seminar/conference management
Geomarketing Market
Global Forecast 2018 – USD 7.3 billion; 2023 – USD 23.7 billion @ CAGR) of 26.4%
- Increasing demand for location-based intelligence
- Use of location analytics and big data
Mass Notification Systems Market
Global Forecast 2017 – USD 4.86 Billion; 2022 – USD 11.87 Billion @ CAGR of 19.6%
- Growing concerns for public safety and security,
- Increasing awareness about MNS for business continuity
The Indoor Location Market
Global Forecast 2017 – USD 7.1 Billion; 2022 – USD 41.0 billion @ CAGR of 42.0%
- Increasing adoption of connected devices
- Growing demand for the indoor location